As part of the Union Budget 2026-27, the finance minister has announced a set of measures spanning across higher customs duty reliefs, carbon capture support, transmission expansion for green corridors, public sector investments and restructuring of non-banking financial institutions.
Carbon capture, utilisation and storage
The finance minister proposed an outlay of Rs 200 billion over the next five years to support carbon capture, utilisation and storage technologies (CCUS), with a focus on scaling deployment and improving technology readiness across five industrial sectors including power, steel, cement, refineries and chemicals.
Exemptions
The budget has proposed a series of customs and excise duty exemptions to support clean energy manufacturing and energy security. Basic customs duty (BCD) has been exempted on the import of sodium antimonate used in the manufacture of solar glass. BCD exemption has also been extended to capital goods required for processing critical minerals in India, as well as to capital goods used for manufacturing lithium-ion cells for batteries deployed in battery energy storage systems. Further, the existing BCD exemption on imports of goods required for nuclear power projects has been extended till 2035 and expanded to cover all nuclear power plants, irrespective of capacity.
Restructuring PFC and REC
The budget has proposed the restructuring of Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) to strengthen their role as long-term infrastructure financiers for the power sector. In parallel, the proposed Infrastructure Risk Guarantee Fund is aimed at crowding in private capital across the power value chain, including storage, by reducing financial risk exposure rather than relying on direct fiscal subsidies.
Budgetary allocation
For 2026-27, the Ministry of Power’s budget is allocated at Rs 299.97 billion (as against Rs 215.88 billion in 2025-26).
For 2026-27, the Ministry of New and Renewable Energy budget is allocated at Rs 329.14 billion (as against Rs 265.49 billion in 2025-26).
A quick look at the industry leaders’ views on this year’s budget…..
Sumant Sinha, Founder, Chairman and CEO, ReNew
Built like a roadmap designed for both sharp turns and long highways, the Union Budget 2026 delivers clarity and confidence in a world defined by rapid shifts and long‑term challenges. It balances the immediate need for employment generation among the youth with disciplined fiscal consolidation, ensuring stability without slowing momentum. By lowering or removing import duties on essential inputs and machinery, the Budget makes it cheaper and easier for India to build domestic manufacturing for strategic and export‑oriented products like batteries, semiconductor chips, garments, and apparels. Its focus on critical minerals, carbon capture and utilisation, and next‑generation nuclear technologies marks a decisive push into the energy‑transition future. Together, these measures signal a clear intent to build a resilient, competitive, and opportunity‑ready economy poised to lead in the next‑generation clean‑energy sectors.
Rajiv Ranjan Mishra, Managing Director, Apraava Energy
Union Budget 2026 reflects a balanced and forward‑looking approach to strengthening India’s energy ecosystem, with a clear focus on reliability, sustainability and long‑term system resilience.
Policy support for battery energy storage directly addresses priority requirements of grid reliability and renewable integration. The extension of customs duty exemptions on capital goods used for lithium‑ion cells to include BESS, along with duty relief on key inputs such as sodium antimonate for solar glass, will help improve cost structures and support the scale‑up of grid‑level storage infrastructure that is essential for a flexible power system.
The proposed Rs 200 billion outlay over five years CCUS further strengthens the transition pathway for emission‑intensive sectors such as power, steel, cement, refineries and chemicals. Enabling CCUS at scale allows critical infrastructure to decarbonise while continuing to meet growing energy and industrial demand.
Complementing these measures, the launch of India Semiconductor Mission 2.0, with an outlay of Rs 400 billion, reinforces the development of enabling technologies and domestic manufacturing capabilities that underpin modern energy systems. Taken together, the Union Budget 2026 provides a coherent and investment‑ready framework for building a reliable, future‑ready and competitive energy infrastructure.
Vimal Kejriwal, Managing Director, KEC International
India’s Union Budget 2026 reinforces the government’s strong commitment to infrastructure-led growth. The scale-up of capital expenditure to ₹12.2 lakh crore, along with the announcement of 20 new waterways and seven high-speed rail corridors, underlines a clear focus on building nationally integrated transport and connectivity networks. For the EPC sector, this creates a positive and sustained demand environment across transmission, highways, railways and water infrastructure. KEC International is well aligned to these priorities, with deep execution capabilities across these segments. We welcome the continued emphasis on infrastructure, which will support long-term private investment, strengthen domestic supply chains and drive inclusive economic growth.
Sharan Bansal, Director, Skipper Limited
The Union Budget 2026 gives renewed focus on the government having capital-led growth and developing long-term national infrastructure. The Budget raises capital expenditure to ₹12.2 trillion for FY2026-27, up from ₹11.2 trillion in the previous year, reinforcing infrastructure investment as a key growth driver. The unambiguous difference between revenue spending and capital expenditure, as well as long-term commitments to the development of assets, gives infrastructure developers and manufacturers long-term visibility.
The Budget focuses on the capital formation, monitoring of outcomes and medium-term fiscal planning, which provides a stable policy environment in the energy transition in India. The fiscal deficit is targeted at 4.3 % of GDP for FY2026-27, underscoring continued fiscal stability alongside investment push. The emphasis to productive capital spending and accountability will facilitate grid modernisation, a field that is well aligned with the ability of Skipper to supply power equipment, grid enabling systems and advanced engineering solutions.
Rajesh Ganesh, MD & CEO, Bajel Projects
The Union Budget 2026-27 is a strong reflection of our government’s vision for building a ‘Viksit Bharat.’ By scaling up public capital expenditure to a historic ₹12.2 lakh crore, the Finance Minister has provided the necessary fuel to accelerate India’s infrastructure-led growth engine.
For the power sector, the budget is particularly visionary. The focus on power sector reforms, specifically the incentives for intra-state transmission augmentation, distribution returns, additional borrowing power, etc. are the catalysts needed to bridge the ‘last-mile’ connectivity gap in our national grid. As India marches toward its 500GW renewable energy target by 2030, the robustness of our transmission infrastructure becomes paramount.
We see this as a strong opportunity. The government’s emphasis on infrastructure risk guarantees and manufacturing self-reliance aligns well with our strategic pivot toward becoming a specialized power transmission EPC player. Our ongoing investments in manufacturing expansion and backward integration are designed to leverage this very momentum, ensuring we commission complex ISTS and Green Energy Corridor projects with execution excellence,
Rajesh Kumar Singh, CEO, Jyoti Structures Limited
The Union Budget 2026–27 provides a strong and sustained policy signal for the expansion and modernisation of India’s power transmission and infrastructure ecosystem. The continued thrust on public capital expenditure, development of new Dedicated Freight Corridors, creation of city economic regions, and targeted investments to ensure long-term energy security are critical enablers for strengthening the national grid and supporting India’s growing power demand. Measures such as the proposed Infrastructure Risk Guarantee Fund and accelerated asset monetisation through REITs are expected to improve financing confidence, reduce execution risks and facilitate timely completion of large-scale EPC projects. For Jyoti Structures, with a proven track record in executing extra high-voltage transmission lines, substations and turnkey grid projects across India and international markets, the Budget creates a conducive environment to support grid expansion, renewable energy integration and cross-regional connectivity, while reinforcing India’s broader electrification and infrastructure development priorities.
Chandra Kishore Thakur, Global CEO, Sterling and Wilson Renewable Energy Group
We feel that this budget has rightly prioritized India’s energy security, especially the increasing role of renewables towards fulfilling this objective over the long term.
The relief in customs duty for the import of sodium antimonate used in the manufacture of solar glass is a step in the right direction. This move will reduce input costs for solar panel manufacturers and thereby augment domestic solar equipment production, giving an impetus to the entire sector in terms of atmanirbharta.
The extending of basic customs duty exemption for capital goods used for manufacturing Lithium-Ion Cells for batteries, and to those used for manufacturing Lithium-Ion Cells for battery energy storage systems (BESS) is also a welcome decision. We must remember that BESS significantly enhances the viability of solar power by addressing its intermittency and enabling efficient energy management. BESS stores excess solar generation for use during low-production periods, thereby augmenting overall system reliability and economics in the solar industry.
With these new measures, we are certain that renewable energy will play a vital role in India’s sustainable development, powering economic growth while reducing dependence on imported fossil fuels.
Rahul Munjal, Chairman and Managing Director of Hero Future Energies
I would like to congratulate the Hon’ble Finance Minister for rolling out a pragmatic yet visionary Union Budget, aimed at building a developed and self-reliant India. It sets a roadmap for inclusive, sustainable and accelerated economic growth, with a clear focus on robust infrastructure and connectivity, domestic manufacturing excellence, balanced regional growth and creation of a future-ready workforce. The government’s reform agenda marks a decisive shift from improving the ‘ease of doing business’ to accelerating ‘the speed of doing business’, through simplified regulations and technology-enabled approvals.
Targeted customs duty exemptions for lithium-ion cells, battery energy storage systems and key clean-energy manufacturing inputs will help scale domestic capacity and improve project viability. The commitment to carbon capture, utilisation and storage acknowledges the need for credible transition pathways for sectors such as power, steel, cement and refining, while long-term support for nuclear energy creates a stable framework for capital-intensive energy investments.
Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures Limited
Union Budget 2026–27 reinforces India’s medium-term growth trajectory by combining fiscal consolidation with a sustained public capex outlay of ₹12.2 lakh crore, providing long-term visibility for infrastructure and energy investments.
From an energy perspective, the Budget’s focus on system resilience is particularly relevant. As renewable capacity scales rapidly, grid-scale Battery Energy Storage Systems will be essential to manage variability and ensure dependable power delivery. Extending basic customs duty exemption to capital goods used for manufacturing battery energy storage systems is a material step toward accelerating deployment and lowering system costs.
Energy diversification is further strengthened through customs relief for solar manufacturing inputs and a ₹20,000-crore, five-year commitment for carbon capture, utilization and storage. At scale, this reinforces the need for reliable, technology-enabled power systems to anchor India’s evolving industrial base and energy ambitions.
Simarpreet Singh, Executive Director & CEO of Hartek Group
The Union Budget 2026–27 signals that India’s energy transition will be driven by stronger capabilities, not just added capacity. The focus on industry-linked skilling will help build a workforce ready for the expanding renewable and power infrastructure ecosystem. Measures to strengthen domestic solar manufacturing, including duty exemptions on critical inputs like solar glass and sodium antimonate, will reduce import dependence and improve supply chain resilience. Bringing customs duty to NIL on capital goods for lithium-ion cell manufacturing will further accelerate energy storage adoption, which is crucial for grid stability and renewable integration. Together, these steps provide long-term clarity and confidence for investments across power transmission, renewables and energy storage.
Girish Tanti, Co-founder & Vice Chairman – Suzlon Group and Chairman of Indian Wind Turbine Manufacturers Association
Budget 2026 is a testament to our nation’s resilience and commitment to growth, even amidst global uncertainty. With a significant increase in capital expenditure to ₹12 lakh crore and energy spending to ₹1 lakh crore, we’re laying the foundation for a sustainable future. Focus on renewable energy growth, grid modernization, and energy security will accelerate India’s energy transition. Atmanirbhar Bharat push with rationalizing policies, and incentivizing innovation through PLI and tax benefits for domestics R&D and manufacturing. Bond market reforms will further boost our economic momentum. This inclusive and comprehensive budget ensures we’re on course for continued growth and prosperity.
Anujesh Dwivedi, Partner, Deloitte India
Budget 2026’s proposals signal a sharper push to mobilise capital and localise supply chains for the energy transition. The proposed restructuring of PFC and REC is aimed at readying them for the larger electricity-sector investments needed to support GDP growth alongside transition goals. Basic customs duty (BCD) exemptions on imported capital goods for manufacturing lithium-ion cells for batteries and BESS, for critical minerals processing, and on sodium antimonate for solar glass manufacturing reinforce the focus on scaling domestic clean-tech equipment. Extending BCD exemption on goods required for nuclear power plants until 2035 should improve near-to-medium-term project competitiveness. The ₹20,000 crore, five-year outlay for CCUS across power, steel, cement, refineries and chemicals will accelerate decarbonisation and help protect export competitiveness amid CBAM. Support for mineral-rich states to build rare-earth corridors will reduce import dependence for solar cells and lithium-ion batteries.
Teymur Abasguliyev, CEO, Nayara Energy
The Union Budget 2026 sends a strong signal of continuity and confidence for India’s industrial and energy future. The emphasis on logistics efficiency, policy stability, and technology-led reforms will materially improve project execution across the energy value chain and provide greater certainty for long-term investments.
Clarity on energy transition pathways, support for refining–petrochemical integration, and incentives for export-oriented downstream manufacturing are particularly encouraging and will help accelerate private sector participation. Combined with sustained capital expenditure, long-term infrastructure financing, and focused skilling initiatives, these measures will enhance global competitiveness, deepen industrial ecosystems, and enable sustainable job creation.
We also welcome the continued focus on MSMEs and emerging energy transition areas such as CCUS and critical mineral corridors, which are essential for strengthening energy security and building resilient supply chains in an increasingly volatile global environment. At Nayara Energy, we remain committed to partnering with the government to translate these policy priorities into tangible growth, responsible investments, and meaningful societal impact, while supporting a balanced and resilient energy transition.
Amod Anand, Co-Founder & Director, Loom Solar
The announcements around ISM 2.0, electronics manufacturing, critical minerals, and rare earth corridors signal a fundamental shift in India’s clean energy trajectory. For the solar sector, this goes far beyond capacity expansion toward building deep technological sovereignty. India is moving from being a hardware assembler to owning critical layers of the energy-tech IP stack—control systems, forecasting platforms, and grid software that power modern solar and storage ecosystems.
The rare earth corridors address a hidden but critical solar bottleneck by securing access to materials essential for high-efficiency motors, power electronics, and advanced energy systems, significantly reducing strategic dependence on China. Complementing this, customs duty exemptions for critical mineral processing, lithium-ion cell manufacturing for storage, and inputs like sodium antimonate for solar glass strengthen domestic value chains across materials, components, and technology—forming the backbone of India’s long-term energy transition and energy security infrastructure.
K.L. Bansal, Chairman and Managing Director, DEE Development Engineers
What stands out from this Budget is the continuity in supporting sectors that require sustained capital investment and long-term planning. There is a clear acknowledgement of emerging areas such as alternative and clean fuels, alongside core segments like nuclear power and steel. For industries that operate on long execution cycles, policy stability and public investment provide the confidence needed to plan capacity, deepen localisation, and strengthen manufacturing capabilities over time. Equally important are the customs reforms announced, particularly the move towards automated, trust-based clearance and reduced compliance touchpoints, which will meaningfully improve ease of doing business and reduce transaction timelines for manufacturers.
The approach to the energy transition also appears balanced and practical. Clean energy solutions such as biomass and waste-to-energy are being recognised for their ability to address emissions, rural income generation, and energy availability together. When combined with nuclear power as a stable, low-carbon baseload and steel as the backbone of infrastructure development, this creates a more integrated energy and manufacturing framework. Looking ahead, such alignment between policy intent and industrial needs, supported by smoother trade facilitation, should help attract long-term investment, improve domestic competitiveness, and support steady, sustainable growth across the sector.
Rajesh Gupta, Managing Director & Founder – Evergreen Recyclekaro India Limited
Union Budget 2026 clearly sharpens India’s strategic focus on rare earths and other critical inputs that are essential for electronics, clean energy and advanced manufacturing. The announcement by Nirmala Sitharaman on dedicated rare earth magnet corridors in Odisha, Kerala, Andhra Pradesh and Tamil Nadu, building on the rare earth permanent magnet scheme announced in November 2025, is a decisive step towards creating end to end capability across mining, processing, research and manufacturing. The continued focus on rare earth permanent magnets, along with the creation of cluster based chemical parks, strengthens the foundation required for India’s EV, electronics and clean energy ecosystems to scale with confidence. This clearly reflects India’s shift from assembly led growth to building control over critical materials and strategic inputs. The parallel strengthening of the semiconductor ecosystem through ISM 2.0, covering equipment, materials and full stack Indian intellectual property, and the higher allocation for the electronics components manufacturing scheme together improve long term domestic supply resilience. Industry is ready to work closely with the Union Government and state governments and we are committed to supporting the creation of compliant and scalable infrastructure to accelerate this national mission.
Devansh Jain, Executive Director, INOXGFL Group
We thank the Government of India led by Hon’ble Prime Minister Shri Narendra Modi, and Hon’ble Finance Minister Shrimati Nirmala Sitharaman for presenting the Union Budget.
The Union Budget 2026–27 underscores the Government of India’s sustained commitment to building a resilient, low-carbon energy system—an approach that closely aligns with INOXGFL Group’s integrated clean energy strategy across renewables, manufacturing and infrastructure.
The continued policy support for battery energy storage systems, including customs duty exemptions for lithium-ion cell manufacturing, along with duty relief for key solar manufacturing inputs, will play a critical role in strengthening grid stability and accelerating large-scale renewable integration. These measures are particularly relevant for developers and manufacturers working to build end-to-end domestic clean-energy value chains.
The Budget’s ₹20,000 crore allocation for carbon capture, utilisation and storage (CCUS) further complements India’s transition by offering a pragmatic decarbonisation pathway for energy-intensive industries, while preserving industrial competitiveness and energy security.
Overall, the Budget reflects a balanced and forward-looking energy vision—one that combines clean energy deployment with infrastructure expansion, manufacturing depth and self-reliance. We commend the government for laying a strong and credible foundation to support India’s long-term clean energy growth and industrial transformation.
Raju Kumar, Partner and Energy Tax Leader, EY India
Energy transition as a question of Industrial resilience and system reliability, not just capacity expansion seems to be the key mantra of Budget 2026. The establishment of Rare Earth Corridors in Odisha, Andhra Pradesh, Kerala and Tamil Nadu, alongside customs-duty exemptions for capital goods used in critical-mineral processing, directly addresses input security for renewables, storage and electric mobility. The ₹20,000-crore CCUS programme provides a credible pathway to decarbonise power, steel and cement, while extending customs-duty exemptions for nuclear projects till 2035 strengthens long-term baseload stability. On the tax front, exemptions for battery energy storage systems, lithium-ion cells, solar-glass inputs and biogas-blended CNG materially improve project viability. Collectively, these measures are likely to compress project costs, unlock private capital, and accelerate deployment of storage-backed renewables, while the restructuring of PFC and REC could improve credit flow and execution discipline across the power sector.
Masood Mallick, Chairman, CII National Committee on Waste to Worth Technologies, & Managing Director & Group CEO, Re Sustainability Limited
The Union Budget 2026-27 marks a decisive shift in how India approaches resource security and decarbonisation treating them as strategic economic priorities rather than regulatory afterthoughts. The INR 20,000 crore commitment to Carbon Capture, Utilisation and Storage (CCUS) over five years is a particularly important signal. It directly addresses the competitiveness challenge Indian industry faces under mechanisms such as the EU’s Carbon Border Adjustment Mechanism and provides a credible pathway for hard-to-abate sectors like steel and cement to remain globally competitive while decarbonising.
Equally significant is the focus on building domestic capability across the critical minerals value chain from exploration to processing. Duty exemptions on capital goods for critical mineral processing, along with support for rare-earth corridors in mineral-rich states, will strengthen urban mining and large-scale resource recovery.
For industries engaged in recovering value from end-of-life materials, this recognition of secondary resources as strategic assets is both timely and overdue. The extension of duty exemptions for lithium-ion cell manufacturing in battery energy storage systems, and the rationalisation of excise duty on biogas-blended CNG, reflect a sophisticated understanding of how clean energy transition and circularity reinforce each other. These measures will unlock investment in recovery infrastructure and accelerate the shift from linear to circular industrial models.
By placing execution, scale, and infrastructure at the centre of its approach, this Budget positions circularity as foundational to India’s manufacturing resilience and its Viksit Bharat ambitions—giving industry the confidence to invest boldly in sustainable technologies.
Rakesh Markhedkar, CMD, Vikran Engineering Limited
We welcome the Union Budget 2026–27 and appreciate the government’s continued focus on infrastructure-led growth across physical and digital assets. The policy direction and long-term visibility provided in this Budget create a strong foundation for sustained investment in the infrastructure sector.
The 20-year tax holiday for data centres and cloud infrastructure, along with measures such as safe harbour norms for IT and data centre services, is a significant step that will accelerate investments in large-scale data centre development across the country. This is expected to drive substantial demand for EPC capabilities in power, cooling, civil, and integrated infrastructure, creating meaningful opportunities for companies like ours.
At the same time, initiatives such as the Infrastructure Risk Guarantee Fund, new dedicated freight corridors connecting the East and West, the Purvodaya integrated East Coast industrial corridor, seven high-speed rail corridors, the India Semiconductor Mission 2.0, revival of legacy industrial clusters, and the scheme for enhancement of construction and infrastructure equipment collectively expand the execution landscape for mid-sized EPC players. Vikran Engineering sees this Budget as an opportunity to actively participate in building both India’s physical infrastructure and its next-generation digital backbone.
Kurang Panchal, Managing Director, Rajesh Power Services Limited
The Union Budget reinforces the government’s commitment to strengthening India’s power sector through sustained public investment and a focus on long-term energy security. Continued emphasis on infrastructure creation and urban development will support ongoing upgrades in transmission and distribution networks. As power demand rises and renewable capacity expands, these measures provide an enabling backdrop for investments aimed at improving network resilience, reducing outages and ensuring reliable supply across regions.
Niral Patel, Chairman, Atlanta Electricals Limited
Incentives for hyper-scale facilities are turning every megawatt of data centre capacity into predictable demand for transformers. Budget 2026 strengthens this by creating long-term visibility across the transmission and distribution sector. MSMEs, which form the backbone of manufacturing, and stronger financing through PFC and REC, ensure capacity, speed, and reliability. Together with infrastructure investment and focused skilling, this moves the industry from cyclical growth to stable, well-planned expansion, ready to meet India’s growing power needs.
Mukund Vasudevan, MD SKF India (Industrial) Limited and President – India, Southeast Asia and Middle East
The Union Budget 2026–27 delivers a clear, confidence boosting push for India’s industrial growth. Despite maintaining fiscal discipline, the higher public CAPEX of ₹12.2 lakh crore signals strong momentum for manufacturing and infrastructure. Reforms focused on financial access, technology adoption, and competitiveness lay the groundwork for long-term industrial strength – key for India to scale and compete alongside with global players. Investments in freight and industrial corridors, along with logistics upgrades, will lower costs, strengthen supply chains, and make Indian manufacturing more efficient.
MSME-focused steps such as the Growth Fund and an expanded TReDS ecosystem should ease liquidity and improve access to capital. Overall, the Budget reinforces India’s direction toward localization, private investment, and resilient industrial growth, giving businesses greater clarity and confidence to scale.
Benjamin Lin, President, Delta Electronics India
This Budget brings together multiple strands of India’s manufacturing and technology growth story in a balanced and forward-looking manner. The Rs 400 billion allocation for India Semiconductor Mission 2.0 and the enhanced outlay for electronics components manufacturing point to a clear focus on scale, depth, and ecosystem development. When seen alongside targeted support for MSMEs through a Rs 100 billion growth fund, the policy framework addresses both large-scale manufacturing and the strength of the supplier base. By aligning capital support with capability building and innovation, the Budget creates a solid foundation for sustainable, technology-led growth and reinforces India’s ambition to emerge as a globally competitive electronics manufacturing hub.
Manish Dabkara, Chairman and Managing Director, EKI Energy Services and President Carbon Markets Association of India
The Budget’s ₹20,000 crore outlay for Carbon Capture, Utilisation and Storage represents a significant transition from climate intent to execution. By prioritising CCUS deployment across hard-to-abate sectors such as power, steel, cement, refineries and chemicals, the government has laid the groundwork for industrial decarbonisation at scale. This is further reinforced by complementary measures supporting critical minerals, domestic manufacturing, and energy security.
Together, these initiatives strengthen the foundations of India’s emerging carbon markets by improving project viability, enabling credible emissions reduction pathways, and attracting private capital into climate solutions. The Budget positions sustainability not as a constraint on growth, but as an enabler of competitiveness, industrial resilience, and long-term economic stability; an approach that will be vital as India advances toward its net-zero ambitions.
Sanjay Gupta, CEO, Apollo Green Energy Limited
What is encouraging in this Budget is that it treats the energy transition not merely as a deployment exercise, but as a holistic mission focused on manufacturing strength and long-term resilience. It addresses several of the practical building blocks of solar scale-up that often sit beneath the headline targets. Something as specific as easing the cost of solar glass inputs may sound technical, but it directly shapes project economics and the competitiveness of domestic supply chains. Equally, the push toward battery storage manufacturing reflects an important truth: the future of solar is not limited to daytime generation, but lies in delivering dependable, round-the-clock, grid-integrated clean power. The emphasis on critical minerals also matters because the energy transition is ultimately a materials transition, and long-term energy security will depend on how strongly we build these capabilities at home. Overall, these measures signal a serious effort to strengthen the sector’s foundations, enabling India’s solar growth to be not only rapid but structurally resilient, and positioning the country as a credible manufacturing partner in the global clean energy transition.